The Ministry of Fisheries, Agriculture and Ocean Resources, in collaboration with the World Bank under the Transforming Fisheries Sector Management in South-West Indian Ocean Region and Maldives Project (TransFORM), officially launched the MVR 278 million "Aaruveri" Matching Grant Program this morning. The initiative was inaugurated by the Minister of Fisheries, Agriculture and Ocean Resources, Ahmed Shiyam, during an official launch ceremony.
The program provides targeted financial support to private companies, small and medium enterprises (SMEs), fishers, and commercial entrepreneurs across the fisheries and ocean resources sectors. Under the scheme, the grant co-funds up to 40% of total project costs, with individual grant disbursements ranging from MVR 1 million to MVR 30 million per approved venture.
Seven Targeted Grant Windows
Manufacturing Grant (Up to MVR 30.84 Million): Financial support for businesses packaging, processing, and distributing fresh or chilled fish products to local markets and the tourism sector.
Fisheries Industry Decarbonization Grant (Up to MVR 30.84 Million): Assistance to reduce greenhouse gas emissions across industrial fisheries operations and accelerate the transition toward renewable, sustainable energy sources.
Processors Development Grant (Up to MVR 12.76 Million): Technical assistance and hardware financing to elevate fish processing standards to global benchmark levels.
Fishing Fleet Decarbonization Grant (Up to MVR 3.08 Million): Grants to upgrade fishing vessels into energy-efficient crafts and integrate new clean-energy technologies.
SME Development Grant (Up to MVR 2.77 Million): Funding to expand small and medium-sized enterprises operating within fisheries and ocean resource value chains.
Mariculture Development Grant (Up to MVR 1.27 Million): Capital support for live fish trade, innovative mariculture products, and marine farming infrastructure.
Circular Economy Development Grant (Up to MVR 1.08 Million): Grants to deploy advanced waste management technologies and minimize environmental footprints across sector operations.
Applications and detailed program guidelines are now open through the government’s dedicated portal at aaruveri.fishagriocean.gov.mv.
